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Japan’s SoftBank Offloads Shares of U.S. Technology Companies

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SoftBank has sold shares of U.S. tech giants including Facebook, Alphabet, Microsoft, and Netflix, according to a news release by SoftBank on Tuesday.

The Tokyo-based company invests in publicly listed stocks through its SB Northstar trading unit and provides a breakdown of the unit’s portfolio companies in its Q2 results.

Facebook, Microsoft, Netflix, and Alphabet were included in SB Northstar’s portfolio at the close of March but were absent from the list at the close of Q2, signaling a reduction in holdings.

On 31 March, Softbank had $3.1 billion of Facebook shares, $1 billion of Microsoft shares, $575 million of Alphabet shares, and $382 million of Netflix shares. But all four stocks were not listed in its June report.

At the end of June, SB Northstar held stakes in firms worth $13.6 billion, down from $19 billion at the end of March.

SoftBank’s net profit for its first quarter dropped 39% YoY to 762 billion Japanese yen ($6.9 billion) as Chinese regulators cracked down on its biggest bet Alibaba and other firms in the portfolio like Didi. SoftBank up 0.90%.

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